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Jun 16, 20261
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Russian Oil Exports Hit Record as Ukraine Strikes Refineries
Russia's crude oil exports hit a record 3.82 million barrels per day in early June, driven by reduced refining capacity after Ukrainian drone strikes on six refineries. Over 120 million barrels are at sea, while Urals crude prices fell to $78.11 per barrel.
Quick Facts
Who
Russia
What
crude oil exports reached record high of 3.82 million barrels per day
When
week ending June 14
Where
Russia
- crude oil exports reached record high of 3.82 million barrels per day
- Ukrainian strikes on six refineries reduced domestic refining capacity
- 120 million barrels of Russian oil are at sea
- Urals crude price fell by $4.10 to $78.11 per barrel
- value of exported oil averaged $2.18 billion in the past month
Russia's crude oil exports have reached a record high, averaging 3.82 million barrels per day in the week ending June 14, according to Bloomberg data. This surge is attributed to reduced domestic refining capacity following Ukrainian drone strikes on six Russian refineries since the start of June, which continued a campaign that began in May. As a result, crude oil that would have been processed domestically is being diverted to export markets.
Currently, approximately 120 million barrels of Russian oil are at sea, a quarter more than the April low, with nearly all cargoes destined for foreign ports. Russian ports, except for Novorossiysk, are operating at normal capacity after recovering from May attacks. Weekly shipments included 36 tanker loads.
The increased supply has pressured prices. Urals crude oil at Baltic ports fell by $4.10 to $78.11 per barrel. Meanwhile, the value of exported oil in the past month has averaged $2.18 billion, reflecting a decline in monthly terms.
Year-to-date, Russia's average oil exports have exceeded levels seen at any point since the start of the war in Ukraine, underscoring the ongoing shift in flows despite Western sanctions and infrastructure attacks.
Topics
Why This Matters
This surge in Russian oil exports despite Western sanctions and ongoing infrastructure attacks indicates that global crude markets remain oversupplied by Russian barrels, potentially keeping oil prices lower for consumers and complicating efforts by OPEC+ to manage output. Investors and energy analysts should monitor this trend as it may signal sustained discounting of Russian crude, affecting global pricing benchmarks and shipping routes.
Timeline & Sources
May 1, 2026
WireUkraine begins campaign of strikes on Russian refineries.
Jun 1, 2026
WireUkraine strikes six Russian refineries, continuing May campaign.
Jun 14, 2026
WireRussian crude oil exports reach record 3.82 million barrels per day.